Some of Cairn Energy Plc's marquee shareholders that include BlackRock, MFS, Franklin Templeton and Fidelity, have asked Indian government to honour an arbitration award and return USD 1.2 billion to the British oil firm, sources said.
Some of Cairn Energy Plc’s marquee shareholders that include BlackRock, MFS, Franklin Templeton and Fidelity have asked the Indian government to honour an arbitration award and return $1.2 billion to the British oil firm, sources said.
Cairn, which on this day seven years back was first slapped with a retrospective tax assessment, is three-fourth owned by the world’s top investors with $529 billion MFS Investment Management of the US being its largest investor with a 13.95 per cent stake.
New York-based BlackRock is the second-biggest shareholder with a 12.21 per cent stake. Other investors include Fidelity International, Franklin Templeton, Vanguard Group and Aberdeen Standard Investments, according to stock exchange data.
Hong Kong Tracker Fund, one of the largest exchange-traded funds in the city, will stop investing in some Chinese stocks to comply with a US government order, but market participants say this is unlikely to have an immediate impact on money flowing into the fund.
US President Donald Trump issued an executive order on November 12 prohibiting US investment in 31 Chinese companies deemed to be affiliated with the Chinese military.
Three companies on the blacklist – China Mobile, China Unicom, and China National Offshore Oil Corporation – are constituents of Hong Kong’s Hang Seng Index.
The Tracker Fund, which is benchmarked against the index, is managed by State Street Global Advisors Asia.
Family offices are heading back to hedge funds. More than a third of 185 investment firms for wealthy clans plan to boost allocations amid the economic upheaval caused by the Covid-19 pandemic, according to survey released Wednesday by BlackRock Inc. and Juniper Place, a London-based firm that helps asset managers raise capital. Family offices and other investors soured on hedge funds in recent years, bemoaning high fees and lackluster returns. But the health crisis has given some of those managers a boost, particularly stock-pickers who benefited from aggressive bets on technology stocks and copious economic stimulus that drove equities to new heights.
Survey: World s Super-Rich Families Want More Hedge Funds newsmax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newsmax.com Daily Mail and Mail on Sunday newspapers.